I say 35. That gives you at least 10 years of solid savings during which time you should have saved a down payment.

35.0 correction op

about tree fiddy


but 30 srs

Nothing wrong with renting. Lots of celebrities do it. Random example is Jay-Z's $400,000 monthly Malibu Mansion.

I don't know.

If you have no other assets/net worth and you're renting.... eek.

If you're rich af and don't want to fork over the opportunity cost of buying a home, then whatever.

Depends on were you live, and if you plan to stay long term or not, along with housing costs.

Depends on where you live and if you plan on traveling a lot for your career.

Depends on a lot of things, but generally I'd say 35 is about right. You should have your chit together by then

18

But you can still be a loser even if you’re not renting

lol most owners are just leasing what they "own" from the bank

miss a payment and see what happens to that property you "own"

Depends how you decide to cope

Depends on why your renting. If you rent a place because you move frequently or have a high enough net worth that it doesn't matter. You can rent your entire life. If you rent because you simply cannot afford to buy a house. After 30+ its just time to step your freaking game up. You've had 12 years to get your schit together.


I'm in and out of peoples homes/apartments a lot and on occasion I run into people in their 50s-70s that are still renters. Have been renters their entire lives. They by far and large have financial issues that are real concerns. Furthermore, they are typically dealing with declining areas living in ghettos because the cost of rent has gone up so much and they don't hold any assets. Feel kinda bad for some of these people because they are stuck in schitty/dangerous living situations and they are relatively old and helpless and are just going to be living like plebs until they die.

By the time I'm in my 80s I'll most likely either sell or rent my properties and rent an apartment/condo/town home with full amenities or live in an upscale hotel with full services/amenities. Either that or I'll want enough cash-flow to afford someone to take care of my yard/home maintenance, cook, clean, drive me around, etc. Might end up relocating to a third world country where I can afford to hire servants in my old age. (srs) It would be cool to have house keepers, a private chef, a butler, a driver, etc. when your too old to do that stuff.


I don't know about Canada but here a foreclosure takes about a year. If it gets to that point you can just sell the house and cash out what equity you can.

If I lose my job right now and can't get employment or pay my mortgage/property tax I can either rent it and pocket an income from the additional cash flow. Sell it and have a couple of years worth of buffer from the equity. Or take in room mates that pay my mortgage. Granted, I have a good deal of equity in my home now.

Depends. If you're the typical person who doesn't know what to do with money then you should buy asap.

If you're the savvy investor, trader, entrepreneur etc. type then you should never buy as it's wasted capital.